Sinead's Feed
May 8, 2015

Investors look to ECB for support after bond shakeout

LONDON, May 8 (Reuters) – Following a recent sell-off in
German bunds, pension fund managers are resisting making any
major changes to their exposure to European government debt,
confident that demand from the European Central Bank (ECB) will
stabilise markets.

Around a third of all outstanding euro zone sovereign paper
offered negative yields last month, prompting some investors to
quit trades that have effectively forced them to pay governments
for the privilege of lending to them long-term.

Apr 28, 2015

Alliance Trust agrees ceasefire with Elliott to avoid face-off

LONDON, April 28 (Reuters) – Alliance Trust has agreed to
revamp its embattled board by appointing two of the three
directors pushed by Elliott Advisors, handing a partial win to
the activist just hours before other investors were due to vote
on the shake-up.

The last-minute compromise marks the end of one of the
highest-profile shareholder rebellions against a British company
and sets the stage for further change at the 127-year old
company led by Katherine Garrett-Cox.

Apr 24, 2015

HSBC says looking into moving headquarters from Britain

LONDON (Reuters) – HSBC Holdings (HSBA.L: Quote, Profile, Research, Stock Buzz), Europe’s biggest bank, will review whether to move its headquarters out of Britain, potentially dealing a blow to a country trying to balance tighter regulation with the importance of the financial industry to its economy.

The announcement comes less than two weeks before UK elections on May 7 and poses challenges for both the Conservatives seeking to return to government and their main rival, the Labour party.

Apr 23, 2015

Investors called on to give boardroom leaders greater scrutiny

LONDON, April 23 (Reuters) – After taking top executives to
task over excessive pay and bonuses, investors are slowly
turning their attention to the role of the chairperson, as
concern about weak governance grows.

As the person responsible for hiring and firing the chief
executive and ensuring company strategy is on track, the chair
is crucial to protecting shareholder returns over the long term,
even though few ever find themselves rejected at the company’s
annual meeting.

Apr 22, 2015

Alliance Trust rejects call to review management of portfolio

LONDON, April 22 (Reuters) – Alliance Trust has no
plans to review the in-house management of its 3.6 billion
pounds ($5.4 billion) investment portfolio, it said on
Wednesday, rejecting a key demand of activist shareholder
Elliott Advisors.

Chairwoman Karin Forseke told Reuters in reply to written
questions that the board recognised its responsibility to
“challenge all elements” of the British investment company’s
business, and said it would reflect on feedback from
shareholders since the rebel investor launched its campaign to
revamp Alliance’s board on March 16.

Apr 19, 2015

Britain’s bank tax jump threatens to push HSBC, StanChart to new home

LONDON (Reuters) – HSBC and Standard Chartered are looking at the viability of quitting London for a new home in Asia because a big jump in a tax on UK banks makes staying in Britain increasingly painful.

Several investors told Reuters they want the two banks to do a thorough analysis on whether it makes sense to move after Britain raised the bank tax by a third last month.

Apr 19, 2015

Insight – Britain’s bank tax jump threatens to push HSBC, StanChart to new home

LONDON (Reuters) – HSBC and Standard Chartered are looking at the viability of quitting London for a new home in Asia because a big jump in a tax on UK banks makes staying in Britain increasingly painful.

Several investors told Reuters they want the two banks to do a thorough analysis on whether it makes sense to move after Britain raised the bank tax by a third last month.

Apr 14, 2015

Alliance Trust steps up search for independent non-exec

April 14 (Reuters) – Alliance Trust is speeding up the
search for a new independent non-executive director and will
consider any candidates put forward by shareholders, it said on
Tuesday, in a move that could head off a more radical board
shake-up proposed by a rebel investor.

Elliott Advisors, which has made a string of criticisms of
127-year-old British investment company, has called on it to
appoint three new independent directors, with shareholders due
to vote on its nominations on April 29.

Apr 8, 2015

Fees from Shell’s BG purchase could be among 10 biggest

LONDON, April 8 (Reuters) – Fees from Royal Dutch Shell’s
$70 billion takeover of British energy firm BG
could be among the top 10 most lucrative transactions on record,
according to estimates from Thomson Reuters and Freeman
Consulting.

Shell’s cash and share offer, recommended by the board of BG
on Wednesday, could earn its three financial advisers a combined
$182.6 million in fees, according to the estimates.

Apr 8, 2015

One $70 billion deal, just three advisers for Shell and BG

LONDON (Reuters) – Royal Dutch Shell’s $70 billion takeover of British energy firm BG stands out because only two investment banks and a boutique firm were selected for the advisory work.

This is in sharp contrast to many so-called mega-deals, which have historically involved at least two and sometimes three or four financial advisers to each party.